Opinion

National Bank of New Jersey v. Commissioner

1 B.T.A. 1238
1925 BTA LEXIS 2595

Court: United States Board of Tax Appeals
Filed: May 26, 1925
Status: Published
On the bench: Korner, Ivins, Marquette
Cited by: 0 cases

The opinion

DECISION.

The determination of the Commissioner is approved. The provisions of section 234 (a) (2) of the Revenue Act of 1918 permit the deduction of interest paid or accrued within the taxable year and do not contemplate the deduction of both interest paid and interest accrued within such year.

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